The Richman Group Development Corp Selected as Master Developer by the Virgin Islands Housing Authority
TRG Community Development, LLC, a division of The Richman Group Development Corporation, was recently selected as Master Developer by the Virgin Islands Housing Authority (VIHA) for the redevelopment of Public Housing in St. Croix, U.S. Virgin Islands. As the Master Development partner, TRG Community Development will work with VIHA to complete a master plan that provides a long-term sustainable development plan to implement its Portfolio Repositioning Strategy for the island of St. Croix that is designed to transform its public housing portfolio to housing-of-choice that incorporates significant energy-efficient elements and energy-resilient concepts.
VIHA is empowered with the responsibility for planning, constructing, maintaining and managing public housing developments on the islands of St. Croix and St. Thomas, which comprise approximately 15% of the total territorial housing stock. VIHA owns and manages approximately 3,014 public housing units on St. Thomas and St. Croix and administers approximately 2,029 housing choice vouchers on St. Thomas, St. Croix and St. John. In 2017, Hurricanes Irma and Maria devastated several Caribbean Islands, including the United States Virgin Islands. In November 2017, HUD allocated $243 million of Community Development Block Grant Disaster Recovery Program (CDBG-DR) funds to the U.S. Virgin Islands to support long-term recovery efforts.